have nationwide recently increased their 30% rate?

w00519772

have nationwide recently increased their interest rate from 3.09 to 3.19 (30% deposit). Someone asked me if i could recommend a provider as i have done a lot of research lately finding the best rate for me as a ftb. I thought nationwide was the best option but maybe now it is not.

Thrugelmir

Rates have slowly been edging upwards for a while. Products are announced and withdrawn all the time. There are only limited funds available for each tranche as well. At a point you just have to take the plunge and apply.

amnblog

Someone is asking you, a ftb, for mortgage advice?

w00519772

amnblog wrote: »

Someone is asking you, a ftb, for mortgage advice?

No. I have looked at a lot of rates recently. Just which are the best rates - no other criteria i.e. personal circumstances.

GMS

Never ceases to amaze me how people are so flippant towards arranging the biggest financial commitment of their lives.

You have done some research so your friend now feels you are able to advise them? You have no idea on criteria, just rates.

Applying for an ineligible mortgage would mean a wasted credit search which could impact on the next application.

Why not seek proper advice and get the best mortgage available to you?

Mortgages are not a 'one size fits all' product. Your mate down the pub may have a 2% rate whilst another has 6%. There will be a reason for the difference whether adverse credit, income, property type, arrangement fee sizes or simply good luck and timing.

ACG

You do realise the day after you do your research - it becomes out of date?

Infact if you do your research in the morning and make an application at 6pm it could be out of date.

The software I use does 2 updates a day on what rates are available.

To answer your question though, as has been mentioned rates are on the up at the minute. Its still to be seen whether this is because of MMR and lenders wanting to reduce their backlog or whether it is a sign of things to come.